4 min read Last Updated : Feb 25 2025 | 12:24 AM IST
For the first time in 20 years, FMCG stocks —such as Hindustan Unilever, ITC, and Asian Paints — are failing to act as defensive assets and are underperforming in a falling market.
The Nifty FMCG index has declined 20.2 per cent since the end of September 2024, when the Indian equity market peaked on a monthly basis, compared to a 12.6 per cent fall in the benchmark Nifty 50 over the same period. The trend has persisted into 2025, with the FMCG index down 8 per cent since the start of the calendar year, compared to a 4.6 per cent